Vietcombank now holds the highest long-term credit rating among Vietnamese banks rated by S&P, and the highest level permitted, equivalent to the sovereign rating of Việt Nam.

As one of the world’s three leading credit rating agencies, S&P’s upgrade reflects its strongest recognition of Vietcombank, as well as confidence in the bank’s stable development prospects over the next 24 months.

For the standalone credit profile, S&P also raised Vietcombank’s rating by two notches, to “BB+” from “BB-.” This rating assesses the bank’s intrinsic financial strength without external support or intervention, such as from the Government. S&P highlighted Vietcombank’s advantages in scale, market position, ability to sustain superior asset quality, and the strongest risk provisioning capacity in the system.

According to S&P, the upgrade reflects its view that Vietcombank will maintain a solid capital position over the next 24 months while preserving high asset quality, outperforming peers with the same rating level. S&P estimates Vietcombank’s risk-adjusted capital ratio at 5.8–6.3% over the next two years, compared with 5.9% at the end of 2024.

S&P also assessed Vietcombank’s risk profile as stable, even under macroeconomic volatility. While the bank’s non-performing loan (NPL) ratio may edge up slightly in the near term, it is expected to remain the lowest in the system compared to the banking sector average. Vietcombank’s NPL coverage ratio of around 200% provides a strong buffer against potential credit risks.

Vietcombank reaffirmed its commitment to supporting regulators in enhancing Việt Nam’s sovereign credibility and credit rating through transparent and timely disclosures and compliance with international standards. The bank considers meeting shareholder and partner expectations as a core principle of sustainable development, maintaining its position and reputation with the Government through stable, safe, and efficient operations.

Vietcombank will continue proactive information sharing, strengthen dialogue with investors, and cooperate closely with credit rating agencies to provide an objective and comprehensive view of its development outlook, further affirming its pioneering role in Việt Nam’s financial and banking system.

VCB News